In the past, television, billboards, newspapers, and brochures were the only means of marketing. These methods have evolved as the digital world now encompasses more platforms to get a message across. 

With the advent of the internet, people began marketing their services and products online, and as the internet gained more popularity, their ways of thinking also changed. The world shifted to digitalization, and marketers took advantage of that. 

Digital marketing, by definition, is the virtual marketing of your blog or website. Digital Marketing is the optimal way to promote your business online, and if done right, it can transform your business into a big profitable giant.

Digital Marketing Strategy

Digital marketing strategy can be defined as a strategy designed to transform your business into profitable means and meet your goals and objectives. It focuses on the plans that dictate which channels and tools you will use for marketing your website and includes budgeting. 

There are multiple ways to market your stuff online, and we have covered the top 5 tips for creating a successful digital marketing plan in this article:

1) SWOT Analysis

Every plan starts with an analysis. A complete analysis of your business’s Strengths, Weaknesses, Opportunities, and Threats will help you understand the things you need to work upon for its betterment.

A SWOT analysis allows you to look at the market and get to know your framework in a much better manner. After the analysis, you can work on the factors that come up as the result of your research. 

An internal study and research of your brand, product, or website also help you understand it better and unlock many sides of the promotional campaign in your plan.

2) Search Engine Optimization (SEO)

SEO is the core of digital marketing; it is the procedure of your website’s improvement to rank better against the related keywords and LSIs on various search engines. Build a strategy to rank on as many keywords (higher rankings) as you can, as it will give great exposure to your website and welcome more visitors.

The goal of SEO is to get more site traffic from your relevant audience. Your audience includes the people who regularly read, buy, or search for the services you offer, so your goal should be to get them on your page.

Targeting is essential in SEO, as your priority should always be to rank against the relevant keywords only to get the required audience on your page.

SEO is essential as every other user begins their search by typing in the search engine bars, and according to the CTR study, 30% of users click on the first result that appears against a specific keyword. If any of your pages are ranking at the top position against a keyword, it will only increase the chances of users landing on your page.

3) Marketing Automation

Marketing Automation refers to using the software as a service to automate various marketing-related tasks. Digital Marketers use this process to save their time and benefit from the results gotten via CRM and CDP integrations.

Marketing Automation platforms can help you build your digital marketing strategy, removing the hurdles of various marketing tasks from your plate by automating them. They can easily automate email marketing, content marketing, social media marketing, and more. 

4) Monitoring

After building a good digital marketing strategy, you should track your progress and monitor every process to ensure that everything goes in the right direction. 

Constant monitoring can help you eliminate the vast blunders by fixing the minor fixes that may appear in any process. You can set the error right when you diagnose it, saving you from more significant troubles. 

Also, constant monitoring contributes to improvements in your tools, processes, and plan. With monitoring, ensure to introduce timely updates to upgrade your digital marketing strategy.

5) Finalize your Digital Marketing Strategy

After the planning and research phases end, you can put together all the elements to finalize your digital marketing strategy.

You must build your potential buyer’s persona, have clear-cut goals for your website or blog, have an inventory and audit of your existing media, and have created a content creation plan. 

After ensuring all these factors, you may form a proper marketing strategy that focuses on your aims and objectives and includes all your research elements.

Conclusion

You can incorporate all the practices mentioned in this blog to make a comprehensive and cohesive digital marketing strategy. We have amalgamated all the critical factors and the essential digital marketing tips for startups required to succeed.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

For a business to run efficiently, it is vital to have a record of all financial statements. The three financial statements generated by the accounting department include the income statement, the balance sheet, and the cash flow statement. Each of these has its significance. Keeping the financial records up to date and maintaining all three of these financial statements is critical for business growth.

Small business owners sometimes make the mistake of ignoring the recording of financial statements promptly. Accountants in small businesses often rush to create accounting statements only when filing the taxes or an external audit is near. Rushing can raise the risk of errors and lead to the potential loss of critical financial data.

Accounting is the systemic recording of all business transactions, including the income and expenditure such as payroll, taxes, client and vendor payments, and office expenses. The accounting department also ensures that the business complies with the government laws and provides the necessary financial paperwork to upper management, investors, and government officials.

An accountant’s job may only be restricted to bookkeeping or data recording and report generation for the small-sized business. However, for medium and large-sized businesses, the role of accountants and the finance department evolves as it involves financial analysis, expense management, and presentation of the company’s financial data to potential investors and the company management.

Having an efficient accounting department or at least a committed and efficient accountant for your small business is necessary. Here are five reasons your small business needs an accountant.

Finance Data Recording and Management

The primary function of an accountant in a small business is recording and managing crucial financial data. The accountant is responsible for maintaining records for all financial transactions and keeping receipts, invoices, and payment documents organized.

The accountants must prepare monthly, quarterly, and yearly financial statements to help business owners study the trends. This data management is easy, especially when you are looking for someone to invest in your business.

As the company size grows more prominent, a typical accountant’s job evolves from bookkeeping to payroll and tax management. Proper financial management ensures a balanced cash flow and timely payments to vendors.

Finance Analysis and Projections

At a more senior level, accountants are required to study the financial statements, analyze and make projections to business owners and potential investors.

These projections are made by studying the monthly, quarterly, and yearly financial reports to observe sales and revenue trends and identify areas of weakness and strength. Qualified accountants calculate and project a business’s growth by thoroughly reviewing the financial records, thereby helping the company owners make learned decisions.

Law Abidance and Regulatory Compliance

The finance department, chiefly the accountant, is also responsible for ensuring that the business abides by the law and complies with all the IRS and state regulations. From tax preparation to budgeting, the accountant is responsible for doing all of this within time to avoid penalties.

Monitoring and supporting taxation issues and filings can also be a responsibility of an accountant. The accountant also usually coordinates the audit process by assisting with financial data preparation.

Communication with External Bodies on Matters of Finance

Businesses often operate on credit and have multiple vendors with payments overdue. The finance department is liable to communicate with all these external bodies, vendors, tax lawyers, or potential investors. Accountants provide the prerequisite data and make sure that payments from vendors are made in time.

Budgeting

One of the critical functions of an accountant is to help formulate an appropriate budget for the company. The accountant, based on business projections, allocates a fixed budget to various departments of the company. The budget is usually annual; however, small businesses tend to break the annual budget into different categories of quarterly budget, monthly budget, and bimonthly budget.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Companies utilize numerous management tools for smooth operations. These tools are efficient and provide business owners with critical insights into their company’s financial information and performance tools for operating processes.

One of the most valuable tools is a budget, primarily used by businesses to manage their finances. A budget is crafted with advanced forecasting so that it can predict future expenses. Presently, companies rely on the accuracy of their income and expenditure, which is indicated by budgeting.

On the contrary, performance reports are usually an assessment of a particular function of a business. Also, comprehensive performance is generated at the end of every fiscal year. The performance report reflects the input of the resources and output of the services for every single company unit.

This activity is commonly implemented by government officials and agencies to co-relate the tax-payer funds and the outcome of services provided by the federal or state government.

Budget and performance reports are essential for every business, and generally, professional accountants or bookkeepers are hired to tackle them. The finance department is typically assigned the budgeting task, while an expert always creates a performance report. The process of budgeting is essential for a business to grow in health and profitability.

Role of the Performance Report

Although budgeting holds a significant amount of information, it can’t offer you additional facts related to variances. Additional costs of acquiring the resources or poor economic conditions are several factors that need to be considered before the budget approval.

However, performance reports are highly impacted if the government brings any alterations in its laws. Half of these indicators are utterly financial, while others might be related to administration and management. Therefore, a performance report has to be accurate to avoid any future surprises.

Role of the Budget

For a business, there are numerous characteristics of budgeting. One of them is how budgeting accurately assigns your money. It provides you an evaluated acknowledgment of your affordability and financial limitations. Here are the primary characteristics of the budget.

Controllability

Budgeting is a fantastic way of willfully controlling your money. The budget allows you to stay worried about the unexpected expenditure that might appear. Also, you’ll be able to determine the weakest parts of your business.

Cash Assignment and Profitability

It is effortless to lose sight of where a company is generating profit during the scramble of chronic management. An appropriately structured budget indicates what aspects of a business generate money and which ones utilize it, which ultimately compels the management to consider expanding neglected parts of a business. Additionally, a very minimal amount is available to invest in working capital and fixed assets, and budgeting forces the management to select the worthiest assets to invest in.

Avoid Business Chaos

In smaller organizations, budgets became a rarity. Business owners prefer to manage themselves only with the reference of general budgeting. Undoubtedly, they aren’t professional accountants with tons of expertise in this field. When things don’t do as planned, the business owners might reserve the employees’ paychecks or invest in several financial operations, but many businesses fall anyway.

There will be varied explanations for this failure called “undercapitalization.” Undercapitalization is the reason larger corporations rely on budgets. It is a significant element for controlling and strategizing financial processes.

Productive Usage of Resources

Within many companies, it is a prevalent practice for employees and managers to assign limited resources. Every business contains a deserving workforce, and it usually creates disputes among the employees. However, the available resources will be naturally higher than the available amount of funds with proper budgeting.

Companies may opt for automated software and performance reports for tracking the financial information related to budgeting. It combines with the performance report that is in charge of comprehensive budgeting management. These reports often list particular attributes relating to several budget variances and the other mandatory information for the budget situation.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Business owners need to know the current technological advances in the field of accounting. With time, the use of bots is increasing, and their cordial relationship with bookkeepers is utterly unavoidable.

Bots are not robots in reality but unique applications that interpret information and notify you. The coding activity allows bots to process data rapidly, which is not humanly possible. The most significant aspect of bots is the perfect blend of human elements and advanced technology to achieve utmost efficiency.

Undoubtedly, bookkeepers play a pivotal role in an organization, but what happens when bots manage the flow of information and render various manual tasks virtually? The shared insight of bookkeeping as an activated role focused on tracking data gets upside down.

Technology has reached a point where individuals don’t have to be involved in manual data collection and management. For instance, recording invoices can be done reflexively and without any human involvement. This activity is getting a lot of hype and is becoming a reality for many financial recorders.

It has been determined that future bookkeepers will go beyond understanding the accounting manual software. Bookkeepers must be capable of anticipating technology usage, workflow issues and strengthen financial strategies.

Artificial intelligence and mechanics have already enabled bookkeepers to communicate with bots just like associates. Many businesses have already entrusted online tools that can record the transactions without requiring a lengthy trial.  Here are six reasons you should use bot technology to handle your business accounting.

Efficient Data Recording

Chasing customers for their accounting records, bills, bank statements and finding the missing documents are some of the troublesome pointers for bookkeepers. Bots help to eliminate this gracious part of the work for bookkeepers. The bookkeeper has to share an online application with the customer for data collection.

Every time the customer receives a bill or receipt, they have to take a picture with their smartphone. The digital document and the connected data will be available to the bookkeeper within minutes. Additionally, they can scan and upload documents from the desktop.

Improves Processing Speed

Sorting documents manually and data entry needs time, depending on the burden of work. Almost all bookkeepers who have worked with SMCs in the past have gone through extreme workloads, and they’ve described their stressful journey of working under pressure.

Bookkeeping bots mechanized data processing and enabled them to craft more reliable services for their customers. Once you have rapid data processing, you can render practical reporting and excellent services.

Better Management

With multiple tasks, it is nearly impossible to remember deadlines and deliveries. A mechanically organized dashboard can compose all the functions in one place. This bird’s eye view of your customer’s bookkeeping variables enables you to prioritize their requirements.

Practical Reporting

Nothing makes a brand attractive to its clients more than practical financial reporting. A few decades ago, practical reporting was quite impossible. Still, with the advent of the latest technology, document sharing, and mechanized bookkeeping tools, it has been easier than traditional accounting.

Less Stressful

Recruiting, training, and reserving a skillful workforce is one of the most crucial challenges for SMPs. However, bookkeeping bots make it facile to appoint and retain work staff. Moreover, it also diminishes the stressful procedure of hiring employees, and it would be highly feasible to motivate a minimal workforce. You won’t worry about the workload’s instant burden or pushing the team to contribute to the business.

Budget-Friendly

The bookkeeping bots don’t include any initial cost, fixed fees, and maintenance costs. Fortunately, it isn’t the software that you need to buy with thousands of dollars. Bookkeeping bots are budget-friendly internet-based software, and getting one for your financial purposes is as easy as signing up for a social media account. There will be no initial cost to utilize them, and you’ll be paying only for the processing of documents.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Why You Should Hire A Professional Accountant Today

Hiring a professional accountant saves time, prevents costly financial errors, and provides expert guidance that transforms your business operations from reactive to strategic. Small business owners typically spend 120 hours annually on accounting tasks that professionals handle in a fraction of the time, freeing you to focus on growth and innovation.

I’ve spent over 20 years as CEO of Complete Controller working alongside businesses across every industry imaginable, and one pattern remains constant: companies that invest in professional accounting services outperform their competitors by margins that surprise even seasoned entrepreneurs. The data backs this up—businesses using outsourced accounting save up to 50% on bookkeeping costs while achieving 30% higher financial accuracy. This article reveals exactly how professional accountants deliver these results, from tax optimization strategies that recover their fees within months to error prevention systems that protect against devastating penalties.

What does hiring a professional accountant achieve, and why act now?

• Professional accounting delivers immediate time savings, error reduction, strategic planning, and tax optimization that typically recovers costs within 90 days
• Time efficiency gains average 10-20 hours monthly through automated bookkeeping, payroll processing, and invoice management
• Mistake prevention eliminates misclassified expenses, compliance penalties, and missed deadlines that cost businesses 5-20% in annual revenue
• Strategic advisory services include growth forecasting, investment planning, and cash flow optimization beyond basic number-crunching
• Immediate ROI materializes through tax savings, recovered deductions, and operational efficiencies that most businesses never realize alone

The Tangible Benefits: How Accountants Save Time and Money

Professional accountants transform chaotic financial operations into streamlined systems that practically run themselves. The average small business owner dedicates three full work weeks annually to accounting tasks—time that could generate thousands in new revenue instead.

Modern accountants deploy cloud-based automation tools that reduce manual bookkeeping labor by 80%. A bakery client recently redirected 12 weekly hours from invoice processing to customer acquisition, resulting in 23% revenue growth within one quarter. These efficiency gains compound over time, creating sustainable competitive advantages.

Beyond time savings, professional accounting services prevent expensive mistakes before they occur. Misclassified expenses, unreconciled accounts, and overlooked deductions trigger IRS audits and cash flow crises. Studies indicate businesses save $7,000 to $15,000 annually by avoiding penalties and interest charges through proper financial management. One retail client discovered $9,200 in overlooked deductions during their first professional review—money that would have vanished without expert oversight.

Navigating Tax Complexities: Expertise That Pays for Itself

Tax regulations change constantly, with new credits and deductions emerging while others expire. Certified public accountants maintain current knowledge of these shifting landscapes, identifying opportunities most business owners never discover.

Strategic tax planning extends far beyond annual filing deadlines. Professional accountants analyze your entire financial structure to minimize tax liability legally. A tech startup recently reduced taxable income by 34% through R&D credits that their accountant identified—savings that funded two new hires. These professionals also handle quarterly estimates, payroll taxes, and state compliance requirements that overwhelm DIY filers.

Audit defense represents another critical value proposition. Accountants maintain meticulous records, respond to IRS inquiries, and navigate examination processes that terrify unprepared business owners. Their expertise prevents minor issues from escalating into major financial disasters, protecting both your business assets and personal peace of mind.

Real-World Pitfalls: Case Studies of Costly DIY Accounting

Financial mistakes compound quickly without professional oversight. A Colorado manufacturing firm faced $28,000 in penalties after missing quarterly payroll tax deadlines—an oversight their overwhelmed owner never noticed until IRS notices arrived.

Their new accountant immediately filed penalty abatement requests, recovering 70% of the charges while implementing automated reminder systems. The firm now saves $17,000 annually through proper tax planning and never misses another deadline. This transformation required just three months of professional intervention.

The freelancer’s $9,200 lesson

A freelance designer learned expensive lessons about balancing personal and business finances. Her DIY approach triggered an IRS audit when suspicious deductions appeared without proper documentation. The examination revealed numerous errors, from unclaimed home office deductions to improperly categorized expenses.

Her accountant restructured the entire financial system, separating business transactions and maximizing legitimate deductions. The result: $9,200 in reduced tax liability and a bulletproof system preventing future audits. More importantly, she gained clarity about actual profitability, enabling smarter pricing decisions that doubled her income within 18 months.

Strategic Financial Leadership: Beyond Basic Bookkeeping

Top-tier accountants function as fractional CFOs, providing strategic guidance that transforms good businesses into great ones. They create detailed cash flow projections, analyze investment scenarios, and identify growth opportunities hidden in financial data.

A Miami e-commerce business leveraged these insights to secure $500,000 in funding. Their accountant prepared three-year financial models demonstrating specific profitability pathways, impressing investors who typically reject 90% of applications. The projections proved accurate, with the business achieving targets six months ahead of schedule.

Professional accountants also implement risk management strategies to protect against common vulnerabilities. They identify overreliance on major clients, suggest revenue diversification tactics, and create succession plans to ensure business continuity. A family restaurant avoided closure after its founder’s sudden retirement by following its accountant’s pre-established transition framework, preserving both the business and family relationships.

Finding the Right Accountant: A 5-Step Selection Framework

Selecting the ideal accounting partner requires strategic evaluation beyond checking credentials. Start by defining your specific needs—tax complexity, industry requirements, and growth objectives shape which expertise matters most.

Step 1: Define your requirements

Tax-focused businesses need CPAs with IRS Enrolled Agent status, while high-growth companies benefit from strategic advisors. Industry specialization matters significantly—restaurants require cost-control expertise while SaaS companies need R&D credit proficiency.

Step 2: Verify professional credentials

Check state board licenses through official channels like CPAVerify.org. Confirm CAAT certifications (Compilation, Audit, Attest, Tax) matching your needs. Request references from similar businesses and actually call them—authentic feedback reveals working relationship quality.

Step 3: Assess technology compatibility

Modern accounting requires seamless software integration. Prioritize professionals fluent in your existing tools (QuickBooks, Xero, etc.) who can enhance rather than complicate current systems. Cloud-based collaboration capabilities enable real-time financial visibility.

Step 4: Evaluate communication style

The best technical skills mean nothing without clear communication. During initial consultations, notice whether complex concepts become understandable. Your accountant should educate, not confuse, ensuring you make informed decisions confidently.

Step 5: Structure the engagement

Discuss service packages, response times, and growth accommodation. Many businesses start with basic bookkeeping, then expand services as needs evolve. Establish clear expectations about deliverables, meeting frequency, and preferred communication channels.

The Emotional ROI: Beyond Spreadsheets

Financial stress destroys entrepreneurial creativity and decision-making ability. Business owners report 40% lower anxiety levels after outsourcing accounting responsibilities, with many citing improved sleep and family relationships.

Professional financial management exponentially builds stakeholder confidence. Banks, investors, and partners view organized finances as competence indicators, increasing funding approval odds by 65%. One client secured a crucial supplier partnership solely because their professional statements demonstrated stability during initial negotiations.

I’ve watched countless entrepreneurs transform from exhausted number-crunchers into visionary leaders once freed from financial administration burdens. They rediscover passion for their core business, make clearer strategic decisions, and actually enjoy entrepreneurship again. This emotional transformation often proves more valuable than any tax savings.

Conclusion: Your Financial Transformation Starts Now

After two decades guiding businesses through financial transformations at Complete Controller, I’ve witnessed one undeniable truth: professional accounting isn’t an expense—it’s an investment that pays compound returns through saved time, prevented mistakes, and strategic insights.

The businesses thriving today aren’t necessarily smarter or luckier than their struggling competitors. They simply recognized that financial expertise amplifies every other business strength while protecting against hidden weaknesses. Your competition may continue wrestling with DIY accounting, but you now understand the competitive advantage waiting through professional partnership.

Take action today before another quarter passes without optimized finances. Schedule your free financial assessment with our Complete Controller team to discover specific savings opportunities in your business. We’ll analyze your current situation and demonstrate exactly how professional accounting transforms your bottom line.

Frequently Asked Questions About Hiring Professional Accountants

How much does hiring an accountant cost for small businesses?

Professional accounting fees range from $150-$500 hourly for specialized CPA services, but most small businesses utilize monthly packages between $250-$1,000 covering comprehensive bookkeeping, payroll processing, and tax filing services.

When should a startup hire its first accountant?

Engage professional accounting during entity formation to optimize tax structure and equity distribution—ideally before generating first revenue to establish proper financial foundations and avoid expensive restructuring later.

Can accountants help businesses manage and reduce debt?

Yes, experienced accountants negotiate payment plans with creditors, consolidate high-interest loans, and develop debt reduction strategies—one client reduced $100,000 in obligations to $72,000 through professional debt restructuring.

What’s the difference between a bookkeeper and an accountant?

Bookkeepers record daily transactions and maintain organized records, while accountants analyze financial data, provide strategic guidance, ensure tax compliance, and offer business advisory services—most growing businesses benefit from both.

How do I verify an accountant’s credentials and reputation?

Verify CPA licenses through state boards via NASBA.org, check disciplinary history, confirm specialized certifications through AICPA, and request references from current clients in similar industries.

Sources

• Archer Lewis. “7 Benefits of Hiring an Accountant for Small Business.” Archer Lewis, 2024. www.archerlewis.com/benefits-hiring-accountant
• Haworth & Co. “Common Accounting Mistakes Small Businesses Make.” Haworth, 2025. www.haworth.com/accounting-mistakes
• Investopedia. “Financial Advisor Definition.” www.investopedia.com/terms/f/financial-advisor.asp
• IRS. “Tax Professional Guidelines.” Internal Revenue Service. www.irs.gov
• J2T Recruiting. “How Does an Accountant Save My Company Money?” 2022. www.j2t-recruiting.com/post/how-does-an-accountant-save-my-company-money
• MGO CPA. “Identifying a Major Tax Error for a Machinery Manufacturer.” 2024. www.mgocpa.com/perspective/case-study-identifying-a-major-tax-error-for-a-machinery-manufacturer
• Mytasker. “Top 5 Benefits of Accounting Services for Small Businesses.” Mytasker, 2025. www.mytasker.com/accounting-benefits
• NOW CFO. “Why Your Business Deserves Better Accounting and Less Stress.” 2024. www.nowcfo.com/why-your-business-deserves-better-accounting-and-less-stress
• Otterz. “Case Study: How Otterz Helped a Small Business Save $20,000.” 2024. www.otterz.co/case-study-how-otterz-helped-a-small-business-save-20-000-annually
• Personiv. “How Accounting Has Changed: 52 Statistics.” 2025. insights.personiv.com/blog-personiv/how-much-accounting-has-changed-stats
• Pulse Accountants. “Top 10 Reasons to Hire an Accountant.” Pulse, 2024. www.pulseaccountants.com/reasons-to-hire
• SBA. “Small Business Tax Guide.” U.S. Small Business Administration. www.sba.gov
• ZenBrief. “How to Build an SEO-Friendly Content Outline.” 2021. www.zenbrief.com/content-outline

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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A business credit control system is a strategic system that ensures that the services or products you provide to the customers on credit are paid for. This system identifies the types of debtors to give them a different time of payment. This determination means that the customers with a strong credit history are provided with a longer time for the repayment of the line of credit, and the customers with a weak credit history are asked to make payments as soon as possible.

Credit control is also called credit policy and credit management. Credit control is essential as the whole business’ success depends on sales, but sometimes having high sales does not mean that you have cash in the business as, without credit control, credit sales turn to irrecoverable and bad debts. Controlling credit also makes your cash flow positive or balanced.

With credit control, your accounts and finance stay managed, the risk of failure decreases, and the business owners will be free from the stress of having to worry about accounts receivable. The duties of a credit controller are managing and collecting debts from company debtors, setting up terms and conditions of the credit, processing payments and reconciliation of invoices, and ensuring timely payment of debts.

The job of a credit controller is very challenging and full of obstacles as dealing with customers can be very hard. Sometimes the customers do not tell the truth, and you end up with late payments again. Sometimes, the situations get out of your hands, and you can’t control them. Here are a few tips to control credit effectively:

• Make sure that the credit-control process is organized. The first step to success has clear and managed records. An essential factor while controlling credit is to make a precise and proper timetable which should include all the debtors, the time of sale, and the time provided to the customer for the payment of your product or service, do not forget to mention the contact details of the debtor to avoid panic at the time of payment.
• Make policies and follow them. While controlling credit and introducing the Credit Control System to the business, you should create a policy and procedure document and follow it. This documented procedure will also help others to understand the policy.
• Keep a background check on the credit history of your customers. If your customers have a strong credit history, you can give them an extension for the payment period, and customers with a weak credit history should give them a lesser period to pay you. You can also offer discounts over early payments to encourage customers to pay timely.
• Communicate with your customers. It is imperative to get all the contact information about your customers to inform them about your terms and conditions. Schedule calls for your customers to keep them updated and to remind them about your payments. Tell them about your new offers and deals about early payments and inform them about your credit history.
• Send invoices to your customers through the internet. Sending electronic invoices to customers is an innovative idea to save the cost of ink and paper, and it is also easy to manage and will be sent to your customers quickly. You can also mention all the details about your policies to make them agree upon your terms. This agreement can also prevent or decrease late payments. Invoicing is also very good for your cash flows and helps you manage your finances properly.

A few benefits of controlling credit are that it saves time if you follow a systematic process. It even saves your money as you will get many payments when you keep track of your payments and invoices. You can manage your risks, too, as irrecoverable debts are a significant factor behind failed businesses.

Credit control is also a key to sustaining growth. A credit controller should be very well organized and skilled to do this job with ease. The tips mentioned above are handy if followed the right way and are practical too.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Essential Qualities Every Good Bookkeeper Should Have

The qualities of a good bookkeeper combine technical expertise and soft skills, including attention to detail, proficiency with accounting software, strong communication abilities, unwavering integrity, and adaptability to evolving financial technologies, ensuring accurate financial record-keeping while building client trust and providing strategic value beyond basic data entry.

Having worked with hundreds of small and medium-sized businesses over the past two decades as the founder of Complete Controller, I’ve witnessed firsthand how the right bookkeeper can transform a company’s financial health, while the wrong choice can create costly chaos. Despite a projected 6% decline in bookkeeping employment from 2024 to 2034, the Bureau of Labor Statistics reports about 170,000 job openings annually, highlighting the critical need for bookkeepers who possess exceptional skills and adapt to modern business demands.

What are the essential qualities every good bookkeeper should have?

• A good bookkeeper combines technical accounting knowledge, attention to detail, software proficiency, and strong communication skills with integrity and adaptability
• They demonstrate mastery of Generally Accepted Accounting Principles (GAAP), QuickBooks and other accounting software, and data analysis capabilities
• Essential soft skills include trustworthiness, organizational abilities, problem-solving skills, and the capacity to explain complex financial concepts to non-financial stakeholders
• Modern bookkeepers need continuous learning mindsets to adapt to evolving regulations, technologies, and industry-specific requirements
• The most valuable bookkeepers provide strategic insights beyond basic record-keeping, helping businesses make informed financial decisions through accurate reporting and analysis

Technical Competencies That Define Professional Excellence

Modern bookkeeping demands sophisticated understanding of accounting principles and technological proficiency extending far beyond basic data entry. The foundation of technical excellence begins with comprehensive knowledge of Generally Accepted Accounting Principles (GAAP), ensuring consistency, accuracy, and legal compliance across all financial recording activities. Professional bookkeepers must demonstrate fluency in double-entry bookkeeping systems, understanding how each transaction affects multiple accounts and maintaining the fundamental accounting equation that keeps financial records in balance.

Software proficiency represents another critical technical competency, with QuickBooks knowledge being particularly essential since the platform serves over 7 million users globally and holds 62.23% market share in U.S. small business accounting software. Technical excellence extends beyond single-platform expertise to include adaptability across various accounting software systems, from cloud-based solutions like Xero and FreshBooks to enterprise-level platforms such as SAP and Oracle. The ability to navigate different technological environments allows bookkeepers to serve diverse client bases and remain valuable as businesses evolve their operational systems.

Advanced data analysis and financial reporting skills

Contemporary bookkeepers must possess analytical capabilities that transform raw financial data into meaningful business insights. This involves creating sophisticated financial reports going beyond basic profit and loss statements to include:

• Cash flow analyses identifying seasonal patterns and liquidity trends
• Budget variance reports highlighting operational efficiency opportunities
• Trend identification supporting strategic decision-making
• Profitability analysis by customer, product, or service line
• Key performance indicator (KPI) dashboards for real-time monitoring

Financial forecasting abilities have become increasingly important as businesses seek proactive financial management rather than reactive record-keeping. Bookkeepers with strong analytical skills identify patterns in spending, revenue cycles, and seasonal fluctuations that help businesses prepare for future challenges and opportunities.

Industry-specific knowledge and regulatory compliance

Professional bookkeepers develop deep understanding of industry-specific regulations, tax requirements, and operational nuances affecting their clients’ financial management. Healthcare practices, construction companies, restaurants, and professional services firms each have unique accounting challenges requiring specialized knowledge. This expertise allows bookkeepers to provide targeted advice and maximize available benefits while maintaining full regulatory compliance.

Communication Excellence and Client Relationship Management

Exceptional communication skills distinguish good bookkeepers from great ones, as these professionals must regularly translate complex financial concepts into understandable terms for business owners who may lack accounting backgrounds. Communication excellence encompasses both written and verbal skills, from preparing clear financial reports to conducting productive meetings where financial data supports strategic business discussions.

Client relationship management extends beyond basic service delivery to include proactive communication about financial trends, potential issues, and opportunities for improvement. Professional bookkeepers understand their role involves educating clients about financial best practices and serving as trusted advisors contributing to long-term business success.

Active listening and problem-solving orientation

The most effective bookkeepers demonstrate exceptional listening skills enabling them to understand client needs, concerns, and business objectives beyond immediate accounting requirements. This active listening approach allows identification of underlying issues not immediately apparent in financial data, such as operational inefficiencies reflected in expense patterns or cash flow problems stemming from customer payment delays.

Problem-solving orientation sets superior bookkeepers apart from those who simply process transactions. When discrepancies arise, excellent bookkeepers:

1. Systematically investigate root causes
2. Develop practical solutions
3. Implement preventive measures
4. Document process improvements
5. Train clients on best practices

Integrity, Ethics, and Professional Trustworthiness

Trustworthiness forms the cornerstone of effective bookkeeping relationships, as these professionals handle sensitive financial information requiring absolute confidentiality and ethical handling. Professional integrity extends beyond basic honesty to encompass ethical decision-making in complex situations, maintaining professional standards even when facing pressure from clients or employers.

According to industry standards, bookkeepers with Certified Bookkeeper (CB) credentials earn an average salary of $59,000 compared to $49,803 for regular bookkeepers—an 18% premium reflecting the value of demonstrated professional commitment and ethical standards.

Confidentiality and data security consciousness

Modern bookkeeping requires sophisticated understanding of data security principles protecting sensitive financial information from unauthorized access or breach. Professional bookkeepers implement secure systems for:

• Data storage using encrypted cloud platforms
• Secure transmission protocols for financial documents
• Regular backup procedures preventing data loss
• Access controls limiting information exposure
• Audit trails documenting all system activities

Organizational Mastery and Systematic Approach

Exceptional organizational skills enable bookkeepers to manage multiple clients, deadlines, and complex financial data streams while maintaining accuracy. This organizational mastery encompasses both physical and digital file management systems ensuring information accessibility while maintaining security requirements.

An online survey of 493 U.S.-based accounting firms found that while 88% indicated technology has a positive impact on efficiency, 60% described their firms as having disconnected software systems. Firms with higher technology adoption showed as much as 39% higher revenue per employee, demonstrating the financial impact of systematic approaches.

Systematic quality control and error prevention

Professional bookkeepers implement quality control procedures preventing errors and ensuring accuracy in financial record-keeping. These systems include regular reconciliation procedures, cross-checking mechanisms, and review protocols catching discrepancies before they affect financial reporting or business decision-making.

Adaptability and Continuous Learning Commitment

The rapidly evolving landscape of accounting technology and regulatory requirements demands bookkeepers who embrace continuous learning and demonstrate flexibility. This adaptability encompasses technological proficiency—staying current with software updates and emerging tools—and regulatory awareness ensuring ongoing compliance with changing laws and standards.

Technology integration and digital transformation

Modern bookkeeping requires comfort with digital transformation initiatives streamlining financial processes. This includes implementing cloud-based accounting systems enabling real-time collaboration, integrating business software platforms eliminating duplicate data entry, and utilizing automation tools reducing routine manual tasks while improving accuracy.

Strategic Business Partnership and Advisory Capabilities

The most valuable bookkeepers transcend traditional record-keeping roles to become strategic business partners contributing meaningful insights to business planning. A case study from a New York City restaurant demonstrates this impact: after hiring professional bookkeeping services, the business reduced financial discrepancies by 50%, avoided tax penalties, and increased annual revenue by 25% through data-driven menu optimization and staffing decisions.

Financial analysis and business intelligence

Advanced bookkeepers provide sophisticated financial analysis supporting strategic business planning. This includes developing key performance indicators helping business owners monitor critical success factors, creating financial models supporting expansion planning, and providing comparative analysis benchmarking performance against industry standards.

Final Thoughts

The essential qualities of an effective bookkeeper encompass a sophisticated blend of technical expertise, interpersonal skills, and strategic business acumen positioning these professionals as indispensable partners in business success. As I’ve observed throughout my career building Complete Controller, businesses that invest in skilled bookkeepers gain far more than accurate records—they gain strategic partners who transform financial data into actionable insights driving growth and profitability.

For business owners seeking to leverage these essential bookkeeping qualities in their operations, the team at Complete Controller stands ready to provide expert guidance and support. Visit Complete Controller to discover how professional bookkeeping services can transform your business’s financial management and strategic decision-making capabilities.

Frequently Asked Questions About Qualities of a Good Bookkeeper

What technical skills should I look for when hiring a bookkeeper?

Priority technical skills include proficiency in QuickBooks or similar accounting software, understanding of GAAP principles, expertise in financial reporting and analysis, knowledge of relevant tax regulations, and experience with cloud-based accounting systems and automation tools.

How important is industry-specific experience for a bookkeeper?

Industry-specific experience significantly enhances a bookkeeper’s value, as different sectors have unique accounting requirements, tax considerations, and regulatory compliance needs. A bookkeeper familiar with your industry can provide more targeted advice and avoid costly mistakes.

Should my bookkeeper have professional certifications?

While not always required, certifications like Certified Bookkeeper (CB) or Certified Public Bookkeeper demonstrate professional commitment and typically correlate with higher skill levels. Certified bookkeepers earn approximately 18% more than non-certified peers.

What soft skills matter most in a bookkeeper?

Critical soft skills include strong communication abilities to explain financial concepts clearly, exceptional attention to detail, trustworthiness and ethical standards, problem-solving orientation, and adaptability to changing technologies and business needs.

How can I evaluate a bookkeeper’s organizational abilities during the hiring process?

Ask candidates to describe their workflow management systems, quality control procedures, and methods for handling multiple deadlines. Request examples of how they’ve improved processes or prevented errors in previous positions.

Sources

• Accounting.com. (2025). “Certified Public Bookkeeper.” https://www.accounting.com/certifications/certified-public-bookkeeper/
• Bureau of Labor Statistics. (2024). “Bookkeeping, Accounting, and Auditing Clerks.” U.S. Department of Labor. https://www.bls.gov/ooh/office-and-administrative-support/bookkeeping-accounting-and-auditing-clerks.htm
• Cashflowfrog.com. “10 Essential Characteristics of a Good Bookkeeper.” https://cashflowfrog.com/characteristics-of-a-good-bookkeeper/
• Careerexplorer.com. “What personality traits do bookkeepers have.” https://www.careerexplorer.com/careers/bookkeeper/personality/
• Complete Controller. “9 Bookkeeping Tips for Small Businesses.” https://www.completecontroller.com/9-bookkeeping-tips-for-small-businesses/
• Complete Controller. “Role of Customer Services in Your Organization.” https://www.completecontroller.com/role-of-customer-services-in-your-organization/
• Complete Controller. “Importance of Reconciling Your Accounting Statements Regularly.” https://www.completecontroller.com/importance-of-reconciling-your-accounting-statements-regularly/
• ElectroIQ. (2025). “QuickBooks Statistics By Market Share, Online and Desktop.” https://electroiq.com/stats/quickbooks-statistics/
• Harvard Business Review. (2013). “The Power of Listening in Leadership.” https://hbr.org/2013/05/the-power-of-listening-in-leadership
• Indeed.com. “15 Good Bookkeeper Skills To Develop.” https://www.indeed.com/career-advice/career-development/bookkeeper-skills
• Inside Public Accounting. (2024). “2024 Accounting Firm Technology Survey.” Rightworks. https://insidepublicaccounting.com/2024/04/16/lack-of-tech-adoption-still-troubles-accounting-profession-survey-says/
• NCC USA. “Top Bookkeeper Skills Employers Want in 2025.” https://nccusa.edu/bookkeeper-skills/
• The Fino Partners. (2024). “Case Studies: How Bookkeeping Services Transformed These Small Businesses.” https://thefinopartners.com/blogs/case-studies-how-bookkeeping-services-transformed-these-small-businesses
• Wikipedia. “Generally Accepted Accounting Principles.” https://en.wikipedia.org/wiki/Generallyacceptedaccounting_principles
• Wikipedia. “Lifelong Learning.” https://en.wikipedia.org/wiki/Lifelong_learning

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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Before the internet, getting a book published was challenging, and often aspiring writers never saw their dreams of published work realized. However, since the internet, eBooks, and alternative publishing methods have been invented, the publishing world has never been the same.

While traditional publishers will likely never be obsolete, they must be much more competitive to keep up with the thousands of independent writers’ self-publishing. However, many independent authors are still hesitant to self-publish because of the costs.

The cost of self-publishing depends on how much of the process you will do yourself, the content and book length, and the costs associated with the self-publishing company you are using to publish. The average cost to self-publish will fall between $2,000 – $4,000, including marketing, cover design, formatting, and editing.  

This cost will be cut if you perform these services yourself. However, for the best quality end product, you should hire a professional editor. Many self-publishing sites have packages that include cover design, formatting, editing, and marketing. These services will make publishing more high-quality. However, using them will drive the costs up. Here is a closer look at these services and their costs.

Editing

It would help if you got a few kinds of technical editing done before publishing, including proofreading, developmental editing, and copy editing. You should have an editorial assessment and make critical changes to publish the best product possible.

Book Cover Design

Unless you are an artist or have skills as a graphic designer, it is suggested that you hire a professional book cover designer. Though there is the saying, “Never judge a book by its cover,” most people will explore a book further for potential purchase because of the book cover design.

The cost of having a professional cover designed can range widely with the cost depending upon the designer’s skill level.

Formatting

Depending on where you are publishing, you will need to format the book and an eBook. Each format is different depending on where you are publishing the book. You can format the book yourself if you know how to do it properly.

Hiring a professional to format your book is an excellent idea because it can be tedious and requires knowledge and skills, so it looks right when the book is published. While formatting can be tricky, there are many videos online that show how to do it.

Marketing

One of the significant disadvantages to self-publishing instead of going through a traditional publisher is that the publisher will heavily market your book. They will also set up book signings or other promotional events and handle all websites and social media associated with you or the book.

Other Costs

Depending on your chosen path, there can be costs associated with delivering and converting your book to an audiobook. You can also pay fees to use a website to publish for you, such as a flat fee or a percentage of your royalties.

In some cases, an author will hire a ghostwriter to help them develop, edit, and publish their book. Some ghostwriters will charge by the hour, while others will charge by the project. While it can be expensive to hire a ghostwriter, it can also help you get your ideas out quickly and professionally if you aren’t a strong writer.

Conclusion

Self-publishing is not for every author. It takes a lot of work and dedication to self-publish a book worthy of competing with traditionally published books. Those books have the entirety of the publishing company behind them on every aspect of the publishing process.

However, since it is difficult to get the attention of a publisher, self-publishing is a viable option. It also allows you to retain all creative control over your work, how it is released, marketed, and the message you want to send.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

To give tax release to business-facing COVID-19 pandemic, the Coronavirus aid, relief, and economic security (CARES) performed temporarily reduces the restriction on deductions for business interest expenditure. Here is the story.

TCJA made a new restriction

Before-tax cuts and jobs act (TCJA), some business was subject to the known “earning stripping” policies. Those policies prevailed to restrict deduction by U.S businesses for interest paid to associated foreign entities that were not subject to the U.S income tax. Other taxpayers can usually fully deduct business interest expenditure (focused on other tax law limitations like the at-risk and passive loss rules).

The TCJA moved the business interest removal or deduction playing field. For tax years starting in 2018 and beyond., it restricted a taxpayer’s deduction for business interest expense for the year to the sum of:

• 30% of compensated taxable income 
• Business income revenue

Business interest expenditure is known as interest on debt that is appropriate to a business or trade. Though, the term business or marketing does not include the following expected actions.

• Deal in the real property business
• election services as a worker
• Choosing farming business 
• Selling water, sewage disposal services, electrical energy, steam or gas by a local supply system, or transportation of steam or gas by pipeline, if a particular governing body makes the rates.

Interest expenditure forbidden under the restriction rules is moving on the future tax years treated and identified as business interest expenditure incurred in the carryforward year.

Small business exception

Various businesses have been released from the interest expenditure restriction rules under what we will call the small business exception. Under the exception, the taxpayer is free from restrictions if the taxpayer’s average annual gross income is $25 million or less than that for the three tax years ending with the ongoing tax year. Businesses with changing annual gross income might qualify for the small business expectation for many years but not for others for the following year.

If the average yearly income is typically over the $25 million thresholds, but not much, careful planning might permit you to succeed the small business expectation for some years.

Particular policies for partnerships and S corporations

The interest expenditure deduction restriction rules affect more complex business managers as partnerships, limited liability companies (LLC) have been preserved as affiliations for S corporation and tax purposes.

 The restriction has been measured at both the owner level and the entity level he higher. Policies stop double counting profit when calculating a leader’s ATI to apply restriction policies at the owner level.

IRS planned regs set forth the new rules for applying the business interest expenditure restrictions to membership and S corporation and their owners. The policies are complex and presently come compliance challenges.

Favorable CARES acts change

The CARES act usually permits businesses, if they elect otherwise, to boost the interest expense deduction restriction to half of the ATI tax year starts in 2019 or 2020. The company could also use 2019 ATI to measure the 2020 ATI restriction, which can permit a massive deduction if 2020 ATI is less, which might be the case for various businesses.

For memberships or partnerships (having LLCs treated as a partnership for tax purposes), the 30% of ATI restriction remains in place for tax years starting in 2019 but is half for 2020.

Do not permit partnership business interest expenditure from the partnerships in 2019. The tax year is owed to partners and carried on their 2020 tax years.

Except for a partner who selects otherwise, half of the carried-over partnership business expenditure from 2019 is reducible in members’ 2020 tax year deprived of esteem to do business interest expenditure policies or rules. The remaining half is subject to the simple restriction policies, measured at the partner level, for carried over partnership business interest expenditure. Similar to other businesses, partnerships could elect to use 2019 ATI to measure at 2020 ATI restriction.

Bottom Line

As you see, the business interest expenditure restricts policies are complex. The temporarily relaxed restriction can permit impacted businesses to reduce their federal tax liabilities for 2019 and 2020. Although for partners and partnerships, restriction policies were flexible only in 2020. Your tax advisors could help your business benefit from the related guidelines for business interest expense deductions and assisted with other tax relief measures made available by the CARES act.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Starting a product or service-based business can be quite a daunting task. While you may have the funding and the business plan sorted already, there are sure to be several unpredictable bumps in the road which you will never be prepared for that will require strategies for success.

One of the critical challenges any business faces is the limited budget for many things a business owner might want to change. These changes could include expansion in product or service, improvement of the technology infrastructure, adding amenities to the employee packages, and incentivizing specific clients with the prospect of significant business returns.

These challenges are worsened if your business is financed by someone else who keeps a keen eye on the regular business operations and refuses to invest in your ideas that could potentially increase the risk of losing money earlier than expected. Here are six strategies to make your business a success.

Retaining Profitable Clients

Your approach should be to find your unique selling point and then focus on finding targeted customers for that USP. If you already have a few clients on board, try analyzing their net worth for your business and tweak your services or products accordingly.

It would help if you also considered the valuable feedback of your clients to maintain a long-term and retainable business relationship with them. While searching for new clients is pivotal to business growth, retaining the ones you already have is equally vital for the sustainability of your business.

A Pool of Experienced & New Human Resources

Most entrepreneurs believe hiring the most experienced talent from the market is the perfect way to climb to success. Experts believe otherwise. A pool of experienced and new human resources allows you to capitalize on the market experience. This capitalization can occur while training new employees according to your values.

Also, product base helps you project your USPs better in the diverse marketplace.  According to a North American survey, over 82% of entrepreneurs in the region make training fresh employees their priority. They believe that investing in the training of their workforces promises better growth for businesses.

Another finding from the same survey suggests that businesses focus on hiring experienced managers with new employees to delegate key responsibilities to experienced individuals who can foresee possible shortcomings in a business plan while benefiting from the enthusiasm and innovation of fresh blood.

Keep up with the Trends

While digitalization has made businesses easier by clearing the ruffles in the communication between the customer and the business owners and making the marketing of products easy, it has also become more competitive. Every other day, you see a new trend evolving. Be it a service or a product, inspirations and ideas lead to innovative products dynamically, thus making the market quite competitive.

Any business needs to keep up with the changing trends and innovate in their products or services to improve their retention ratios and position themselves among the industry’s market leaders.

Automate Processes

Gone are the days when customer communication, procurement, and advertisement used to be managed on manual sheets and databases. You can save time and money by investing in good accounting, CRM, and procurement software.

These tools will cut down the amount of work to be done and automate processes. With technologically advanced infrastructure and processes streamlined and well-versed, businesses can overcome many challenges with ease.

Grow Business Partnerships

It is not entirely necessary to offer all the services related to your product in-house. A more appropriate approach is to make business partnerships with service-providing vendors. Developing these relationships can help you cut costs significantly.

These savings can be beneficial in the first phases of your business. Hiring staff members for limited work can have a significant impact on your business’ finances. Growing partnerships not only save that extra cost but also establishes your brand in the market.

Consider Acquisitions

If your business has already passed the first phase and you are planning an expansion, it is best to look for potential businesses that you can acquire. The acquisition doesn’t necessarily mean taking over a million-dollar business. You could start small and look at competitor businesses going through an operational crisis.

When considering acquiring another business, you must ensure it is on brand or easily adapted to your brand. If you are looking to expand, it stands to reason that you are successful, and the acquisition would represent what you have already established.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.